The rich rule over the poor, and the borrower is slave to the lender. - Proverbs 22:7
Give to everyone what you owe them: - Romans 13:7
Owe nothing to anyone—except for your obligation to love one another. - Romans 13:8
The Bible is clear about debt – we are to pay it back and to be debt free. And that makes so much sense. Paying debt is dealing with something in the past which slows down or hinders moving forward. Without debt, there are more resources to be used for God’s Kingdom and ministry.
Currently Bridges has two forms of debt, just over $40,000 remaining on an interest free loan of $50,000 to replace the HVAC system of our Worship Center which we took out from Waypoint Church Partners in 2022 and our mortgage through Christian Financial Resources with right around $1 million remaining.
It is our goal and hope to pay back both of these debts early so that we can be debt free as a church.
We are grateful to both of these partners for lending us the money. The building is a wonderful ministry tool which has been put to great use in the past 3 years. These partners have been great friends to us over the years. It would be great to pay them back early so they can use the funds to help other churches too.
Our plan to pay off the debts is twofold:
This special offering of above and beyond giving will be directed to pay off our HVAC loan in a very short time. That would open up more money to go to paying off our mortgage early. We are off to a good start with almost $4,000 in already. There are still 3 weeks to go in the 41kin 41 days. You can give online, mail or on Sunday mornings – just indicate that it is for Debt. https://www.bridgeschurch.net/give.
Our mortgage has a special 1-time re-amortization that can be used in the first 5 years to buy down the loan, reduce interest, and lower the monthly payment. This is a wonderful opportunity for the church to take a big step in becoming debt free early with a lesser debt load. In early 2024, we will present a plan for how we can best take advantage of this. We are taking this year to pray and make plans for this step.
God has blessed us in so many ways, and we are grateful for the ministry partners He has brought into our life and the facility which we have to use as a church.
Moving forward we will be trusting in Him to provide as He always has. We are blessed as a church and want to be a blessing to others.
Let’s move forward together toward greater financial freedom as a church.
Please contact us with any questions or ideas – firstname.lastname@example.org.